Malawi economy growing – World Bank

The World Bank has said Malawi’s Gross Domestic Product growth will increase to 4.5 percent in 2017 from 2.5 percent in 2016.

The estimates are in the Malawi Economic Monitor (MEM) 6 which the bank released on Wednesday in Lilongwe.

Kabambe: These reports are fair.

The sixth MEM which is entitled Land for Inclusive Development was released together with Malawi Investment Climate and the Country Economic Memorandum.

The MEM says for Malawi to stay this course and prepare the way for a path to higher long-term growth, it needs to maintain and deepen macroeconomic stability, fiscal discipline, and debt sustainability.

“The country also needs a combination of a large boost in medium-term investments and deep structural reforms to strengthen conditions for the private sector. These reforms should include the availability of energy, and land reforms,” says the report.

The MEM acknowledges the recent passage of Land Laws as necessary to secure land rights, especially for women and vulnerable groups but it recommends improving the planning and management of land resources at central and local levels, as this has a potential to generate revenue.

Speaking at the event, Reserve Bank of Malawi Governor Dalitso Kabambe expressed gratitude over the reports saying they will among others assist Malawi on how to move forward in terms of boosting its economy.

“These reports are fair and are showing that we are coming from a very difficult time but am glad to say that we have stabilised our economy,” Kabambe said.

He was quick to mention corruption as well as cashgate scandals as main factors that disturbed the country’s economy.

According Kabambe, Reserve Bank with the help of the reports will therefore make sure that the county’s economy continues to stabilize.

In her remarks, World Bank Country Economist Priscilla Kandoole commended Malawi for improving its economy.

Kandoole asked people in authority to continue working hard and use some of policies outlined in the reports.

A classic example is when someone woke up one morning thinking it was a Monday instead of a Sunday and hurriedly announced to change the nations flag andvwasvabout change the currency too claming that we were the fastest growing nation on the planet after Quatar.Hahaha.Many of you clapped hands.I didnt.A few others didnt too.

Is world bank working under instructions too? Or they are given wrong data to compile these report. Don’t they use primary data collection techniques such as observation? What is it that we are producing that is improving GDP? Malawi leaders must be careful with where they are taking this country to.. Our agriculture is going doing and tobacco markets and systems are corrupt. Maize market is not available. Mining sector is in the hands of foreign investors. Our tourism industry is not given enough attention.. Anyway.. Only God know the truth about these reports!!!

No. There are a lot of thinkers who have beautiful idea and not this idiot. For your own information that was already said by Immanuel Kant nde if Trump did not acknowledge that, it is plagiarism. You can check that word(plagiarism) in ur dictionary kkkkkk

Please Malawians don’t be cheated , These people are fooling this liar. The fact is there is no or little development taking place in this country. I recall Dr Hestings Banda used to preach that the backbone of this country is farming and he himself and his ministers were leading examples. But now things are totally different, this farming task has been left in the hands of small farmers who are facing with challenges low capital, high cost of farm inputs, political interference on farm inputs,luck of reliable markets just mention a few, while the president and his ministers are busy buying expensive cars instead of investing in farming activities to creat jobs for poor Malawians,and you stand tall and say that the Europeans are saying your economic is growing,yet nothing you are producing for export rather than importing maize flour from Zambia shame on you.

Bravo Mikwamba, well explained. Justice tarmac in Chitipa cannot affect GDP anymore. GDP thing deals with increase in exported goods which are produced locally. Can you export tarmar road to America,China, Europe? Moreover that tarmac road was already commissioned in the past what remained was the commencement of the project.

When did Malawi was rich? what i know is that the alleged time of MCP which they claim tha the economy was good, majority of the people were living at the extremely poverty to the point of that kalaliki yekha ndi amene amavala trauser lopanda zigamba, nyumba za malata pamudzi zinali za Agriculture zokha basi, so a’m wondering anthu akamati we are getting poor than before, can someone school me about that? is true magesi samkazima koma kwathuku samazima chifukwa magesiwo kunalibe

Which economy are you talking about? Are you mad? You just think we are fools. You can talk of economy for those in high positions which growing up seeing Malawians passing through countless and millions of troubles and difficulties as if we don’t pay tax. I now get your point: your economy is growing up indeed but not Malawi’s economy which is growing down. If it is growing, why did you reverse your decision of coming up with that K5000 note? And then, where is electricity? Why is it that we youths suffer and just stay in homes after spending all that huge amount in our colleges and universities with diplomas and degrees in bags?

Akunena izi si President wa dziko lino koma ”WORLD BANK..” This is only for those Malawians who got eyes to see the effort Government is puting up & aMalawi okhawo amene ali ndi mtima/umunthu owona zabwino zimene boma likuchita..! Congrats HE Prof. APM

I think the report was compiled by people who were school mates,room mates, and work mates of this great liar called Peter Mutharika.Which nation have developed without electricity can this stupid thing called World Bank tell Malawians?

To:Mr Tupo Joseph Saidani Can you tell us fully what GDP is all about? What are the indicators of a good GDP? With well backing points can you tell Malawians five economic growth indicators of which 50-100% of Malawi’s population is benefit from them,Lastly if your are a DPP cadets you will tell us lies as your father Peter Mutharika used to.

How is it growing with persistent power outages? World bank- you can do better than turning yourselves into soothsayers!!! Malawians are neither asleep nor stupid – respect yourselves by being decent with us!!! If your economists are retirement age, send them to their homes!!! The last thing Malawians expect from the donor community is any attempt to corrupt their mindset!!! Stop this foolishness -you understand?

hahahhaa i knew that yo issue is about electricity man but u av to understand this no onez responsible for this and f u followed the issue on percentages t z something that z good to hear according to the duration of this government despite kut ndine wa mcp